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South Korea to Check Air Passenger Info to Sort out Potential Terrorists

South Korea to Check Air Passenger Info to Sort out Potential Terrorists

SEOUL, Jan. 18 (Korea Bizwire) – Starting in April, South Korea will check information on inbound air passengers to sort out potential terrorists, officials said Wednesday, as Seoul seeks to beef up security ahead of major sporting events amid growing military threats from North Korea.  The government also decided to establish a system that would [...]

S. Korea to Set up 3.5 Trl Won Fund to Help Startups

S. Korea to Set up 3.5 Trl Won Fund to Help Startups

SEOUL, Jan. 18 (Korea Bizwire) – South Korea will establish a 3.5 trillion won (US$2.9 billion) fund to nurture startups and venture firms in the science and technology sectors to secure new growth engines, the science ministry said Wednesday. Under the comprehensive plan announced by the Ministry of Science, ICT and Future Planning, the fund [...]

Gov’t to Expand Financial Support for SMEs

Gov’t to Expand Financial Support for SMEs

SEOUL, Jan. 17 (Korea Bizwire) – The South Korean government said Tuesday it will provide small and medium-sized enterprises (SMEs) here with a record level of financial support this year via policy lenders to help them weather difficult business conditions.  The lenders will increase their lending to 186.7 trillion won (US$156 billion) for the year [...]

S. Korea to Increase Investment Related to 4th Industrial Revolution

S. Korea to Increase Investment Related to 4th Industrial Revolution

SEOUL, Jan. 16 (Korea Bizwire) – South Korea will expand investments to secure a new growth strategy to cope with the fast-paced industrial transformation, dubbed the fourth industrial revolution, the science minister said Monday.  The remarks were made during a meeting between officials of the Ministry of Science, ICT and Future Planning, and executives of [...]

Government Plans to Turn Sejong into “Self-Driving City”

Government Plans to Turn Sejong into “Self-Driving City”

SEJONG, Jan. 10 (Korea Bizwire) – Sejong, South Korea’s de facto administrative capital, will become the world’s first city dedicated to self-driving vehicles.  Lee Choong-jae, administrator for the National Agency for Administrative City Construction, announced Tuesday an ambitious plan to make all 360 kilometers of roads in the city self-driving-compatible by the year 2020, in [...]

S. Korea to Invest 14 Tln Won into New Emerging Industries

S. Korea to Invest 14 Tln Won into New Emerging Industries

SEJONG, Jan. 4 (Korea Bizwire) – South Korea will invest nearly 14 trillion won (US$11.6 billion) into new energy industries such as solar power this year in a bid to foster the potential sectors as the country’s new growth engines, the ministry here said Wednesday. The Ministry of Trade, Industry and Energy said investment made [...]

Florists, Flower Farmers Feeling the Pinch of Anti-Corruption Law

Florists, Flower Farmers Feeling the Pinch of Anti-Corruption Law

BUSAN, Jan. 3 (Korea Bizwire) – Flowers – once common as welcoming or departing gifts, or congratulatory presents – were scarcely seen at a Busan government office on Monday, despite it being the peak season for promotions and office transfers.  According to flower farms in the region, the typical end-of-year or early-year reorganization period for [...]

S. Korea Mulls Measures Against China’s THAAD Retaliation: Source

S. Korea Mulls Measures Against China’s THAAD Retaliation: Source

SEOUL, Jan. 2 (Korea Bizwire) – South Korea is mulling countermeasures in response to suspicions that China is retaliating against the decision reached with the United States to deploy an advanced anti-missile defense system on its soil, a diplomatic source said Monday.  In July, South Korea and the U.S. announced a plan to station a [...]

S. Korea, China Agree to Tougher Crackdown on Illegal Fishing in Fisheries Agreement

S. Korea, China Agree to Tougher Crackdown on Illegal Fishing in Fisheries Agreement

SEOUL, Dec. 30 (Korea Bizwire) – South Korea and China have reached a deal on their annual fisheries agreement that will set their fishing quota in each other’s exclusive waters and also require additional measures, especially by Beijing, to crack down on illegal fishing by Chinese boats, the Seoul government said Friday.  The agreement was [...]